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[MSN] Facebook, banks sued over pre-IPO analyst calls

post #1 of 14
5/23/12 at 8:03am
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Quote:
Facebook Inc and banks including Morgan Stanley were sued by the social networking leader's shareholders, who claimed the defendants hid Facebook's weakened growth forecasts ahead of its $16 billion initial public offering.

The defendants, who also include Facebook Chief Executive Officer Mark Zuckerberg, were accused of concealing from investors during the IPO marketing process "a severe and pronounced reduction" in revenue growth forecasts, resulting from increased use of its app or website through mobile devices. Facebook went public last week.
Quote:
Facebook shares fell 18.4 percent from their $38 IPO price in the first three days of trading, reducing the value of stock sold in the IPO by more than $2.9 billion.

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post #2 of 14
5/23/12 at 8:05am
jerry.gif
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post #3 of 14
5/23/12 at 8:07am
stock price is still too high to buy. wait it out until it hits 10 bucks or less, then I'll consider it. I think FB is too big to not eventually become a solid performer, their reach is just too widespread. But it's not worth buying right now, certainly wasn't worth it @ 40 bucks a pop
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post #4 of 14
5/23/12 at 8:07am
LOL @ all the people various news stations interviewed on the streets, most of them were like "yeah I think facebook is gona be great to invest in, everyone uses it"


LMAO.
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post #5 of 14
5/23/12 at 8:12am
Quote:
Originally Posted by b3machi7ke View Post

stock price is still too high to buy. wait it out until it hits 10 bucks or less, then I'll consider it. I think FB is too big to not eventually become a solid performer, their reach is just too widespread. But it's not worth buying right now, certainly wasn't worth it @ 40 bucks a pop

Yeah...I think it's obvious market forces are at work and people dumb enough to by hype deserve to be hit. At the same time...if there was "insider" information being withheld then FB and the underwriters need to get hit. I was thinking 15 would be the likely "accurate" market price but maybe you're right.
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post #6 of 14
5/23/12 at 8:17am
2 900 millions redface.gif
2 900 000 thousands redface.gif

A single % of that I'd be happy.
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post #7 of 14
5/23/12 at 8:53am
Quote:
Originally Posted by Abs.exe View Post

2 900 millions redface.gif
2 900 000 thousands redface.gif
A single % of that I'd be happy.

This
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post #8 of 14
5/23/12 at 9:51am
How does use of the Facebook website and app on mobile devices reduce revenue growth?
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post #9 of 14
5/23/12 at 9:57am
Quote:
Originally Posted by samwiches View Post

How does use of the Facebook website and app on mobile devices reduce revenue growth?

They get revenue from ads. You think no one clicks the ads, but they do. Like 1/10 people or less. But how many people visit facebook a day? an hour? It's a lot of money still just from ads. You can't put ads on the mobile site or in the app....yet.
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post #10 of 14
5/23/12 at 9:59am
Hi, I just lost a bunch of money at your blackjack table and now I'm upset because I thought I was going to make money not lose money. Even though I knew the risks involved, I'd like my money back now please because I think the game wasn't fair.
Edited by strap624 - 5/23/12 at 10:01am
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